- Spanish gov’t to cut spending, sell banking assets
- Greek Parliament to be dissolved Wednesday ahead of elections
- ECB’s Asmussen: Greece will grow again in 2014
- US Feb midwest manufacturing index 91.7 vs 90.8 prior
- US March CB employment trends 107.28 vs 107.47 prior
- 10-year Treasury yields fall to 2.02%
- Gold rallies as Indian strike called off
- Iran returns to talks
- Upbeat outlook from Canadian business in BOC survey
- RTRS poll: 11 of 15 primary dealers expect QE3
- S&P 500 down 1.1% to 1382
- NZD leads, USD lags on day
With Bernanke set to speak at 2315 GMT, the theme in US trading was unloading US dollars. EUR/USD drifted below 1.3050 in the first hour of trading before reversing higher to 1.3135. Stops above 1.5990 did little to stem the momentum, nor did supply at 1.3120/25.
The yen was also shunned in the FX beauty contest ahead of today’s BOJ decision. USD/JPY edged down in Asia and early European trading but rebounded as the yen tumbled against the crosses. EUR/JPY climbed a full cent from its lows to 1.0720, setting off buy stops along the way.
EUR/CHF edged away from the SNB’s peg, climbing to 1.2020.
The antipodeans were out-performers, climbing steadily before a late dip due to risk aversion in stocks. AUD/USD touched as high as 1.0333 but was unable to break the post-NFP high at 1.0335.
